OPEC won't cut production to stop oil slide: Pros

OPEC will not cut production in order to stop the downward slide of oil prices, two energy pros predicted on Friday.

The agency is slated to meet on Thanksgiving Day and with oil prices on a recent downward spiral, market bets on the outcome of the meeting have varied.

For Chicago Energies president Peter Amandio, the answer is clear.

"I think they want to see lower prices to get their competition out of the market," he said in an interview with CNBC's "Closing Bell."

That competition is namely the North American shale companies, which he said have a high cost of production.

Azad Lashkari | Reuters

Workers check the valves at the Taq Taq oil field in Arbil, Iraq, in this Aug. 16, 2014 photo.

Chad Brownstein, chief executive of Rocky Mountain Resources, thinks the real reason OPEC won't cut production is because of issues between Sunnis and Shiites and Iran and Saudi Arabia.

However, he added, "they have U.S. markets on their heels right now. You are going to see our rig counts go down. The corporate boardrooms in America are stagnant not knowing where oil is going to go."